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JPMorgan plans contingent interest autocallable notes linked to Apple
By Susanna Moon
Chicago, Sept. 11 – JPMorgan Chase & Co. plans to price autocallable contingent interest notes due Sept. 20, 2016 linked to Apple Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent semiannual coupon at an annual rate of 8% if the stock closes at or above its coupon barrier level, 65% of its initial level, on the review date for that period.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any quarterly review date other than the first and final dates.
The payout at maturity will be par unless the stock finishes below its 65% trigger level, in which case investors will be fully exposed to any losses.
J.P. Morgan Securities LLC is the agent.
The notes will price on Sept. 15 and settle on Sept. 18.
The Cusip is 46625HNB2.
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